Sun City Texas Real Estate Report May 2022
TEXT VERSION
Sun City Texas Real Estate Report© & Home Sales Summary
May 2022 Results
See online at www.SunCity https://www.ruggrealty.com/sun-city-tx-real-estate-market-reports/
|
May-22 |
May-21 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$345,900 |
$237,500 |
45.6% |
High |
$805,000 |
$625,000 |
28.8% |
Average |
$513,497 |
$359,939 |
42.7% |
Median |
$505,000 |
$355,000 |
42.3% |
Units Sold |
43 |
57 |
-24.6% |
Days on Market |
7 |
6 |
16.7% |
|
May YTD 22 |
May YTD 21 |
|
Summary |
Sale Price |
Sale Price |
Change from prior year |
Low |
$285,000 |
$200,000 |
42.5% |
High |
$869,990 |
$850,000 |
2.4% |
Average |
$481,005 |
$361,141 |
33.2% |
Median |
$454,400 |
$341,000 |
33.3% |
Units Sold |
221 |
216 |
2.3% |
Days on Market |
10 |
16 |
-37.5% |
Data gathered from ACTRIS MLS June 1, 2022
Month of May 2022 – Prices continue to soar, but unit volume is off 25%. Who could have imagined the average price of a home in Sun City would reach $513.5k and the median price would reach $505k, a $150,000 increase in just one year! There are some early indications that the market is beginning to cool off. Days on Market is up 16%, Current active listing are up to 27 with average DOM now at 11 and counting, and we have actually seen some proprieties with price decreases. It is no surprise things are settling down after the white-hot market of the past year. Looking ahead to June 2022, there are 51 re-sale homes currently contingent or under contract/pending. We will not meet last June’s total of 74.
May YTD – As the month goes, so goes the year to date. Average and Median Sales Price is up 33.2% and 33.3% respectively. Units sold has maintained a positive thin edge over one year ago, but we already know this will changed next month. Days on Market is still 37.5% lower than prior year but up to double digits. The real question becomes, “what will happen to prices as the market transitions to one that is more normal?” Stay tuned.
The Sun City Texas Real Estate Report is an analysis of sales activity for consumers who have an interest in Sun City Texas home values. Its use is not intended to value a specific property or predict future valuations. If you find this report of value, please Follow Us on Facebook. For more information contact Brian@RuggRealty.com or 512-818-6700.
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